Classical targets for IBM share
IBM share has been able to breach through the neckline of the classical inverse head and shoulders pattern along with clearing the resistance of the broadening wedge pattern where it stabilized around 175.90 regions.
The confirmed breakout is fair enough, but another break above 176.30 will trigger further appreciation, targeting 191.6 followed by 200.00 psychological and 215.90 respectively.
Assessing indicators, the positivity is clear on RSI and MACAD as well above moving averages.
Bulls should place their stop loss below the neckline of the aforementioned classical patterns.